INFORMATIVE NOTE
Date of Publication in the Official Gazette of the Federation: July 16, 2025 (afternoon edition).

Date of entry into force: July 17, 2025, except for the exceptions given for the transitional articles (amendment to the general rules of the Law being amended within 12 months; the annual period for those vulnerable activities to develop training programs and have an audit will be 2026, and in the case of the first year of operations as a vulnerable activity, it will be the period between the start date and December 31 of the following year; risk-based assessments, policy manuals, personnel selection processes, training programs, automated mechanisms, among other obligations of the amended Article 18, will enter into force within the time limits established for that purpose by the general rules referred to in the Law).

– Who is affected by the Amendment?

Individuals engaged in vulnerable activities (including commercial companies), politically exposed persons, and administrative and criminal authorities.

– Important aspects of the Amendment to be considered:

The Amendment involves significant changes that strengthen anti-money laundering compliance, including the following:

• The definitions of “Politically Exposed Person” and “Compliance Officer”, among others, are added, and the definition of “Controlling Beneficiary”, among others, is updated.

• The receipt of funds for real estate development, defining it as projects for the construction of real estate or subdivision of plots for sale or rent, as well as the activities related to public and private facilitators of alternative dispute resolution mechanisms, are added as vulnerable activities.

• The exchange of virtual assets, such as cryptocurrencies, by non-financial entities is regulated.

• Regarding the vulnerable activities consisting of money transfer or securities custody services, the obligation to file a notice is added in cases where the amount of the securities transferred cannot be determined.

• The obligations of identification and safeguarding of information for entities that carry out vulnerable activities, requiring them to identify the Controlling Beneficiary (natural person or group of natural persons) of corporate or trust clients, through official documents, are strengthened.

• Various new obligations are included for those who carry out vulnerable activities, such as having an internal policies handbook that includes measures to identify politically exposed persons, among other matters, applicable to all their branches and affiliates, if applicable, as well as more requirements in connection with the information supporting the vulnerable activity, extending the retention period to 10 years.

• Also, as new established obligations are a risk-based assessment (to identify, analyze, understand and mitigate risks), to implement personnel selection processes, annual trainings, and automated mechanisms to identify vulnerable activities, with internal or external audits (depending on the risk level of the vulnerable activities) at all times to verify compliance with obligations.

• The mandatory designation of the compliance officer is established, who must have operational independence.

• The sanctions regime is strengthened by empowering the Ministry of Finance and Public Credit to temporarily suspend operations, including the self- correction mechanism, restricting deadlines, and specifying fines for non-compliance.

The thresholds and certain assumptions applicable to various vulnerable activities are updated (e.g., activities involving public notaries, specific transactions, card issuers, credit services, prepaid cards, and virtual assets) for their identification and reporting.

• It is established the obligation to notify the authority within 24 hours for detected transactions that may originate from or be destined for crimes involving funds of illicit origin, seeking to implement a risk- based approach with automated monitoring systems and annual audits.

• Commercial companies are now required to register in the electronic system established by the Ministry of Economy the corresponding information that allows for the full identification of the individual or group of individuals who exercise effective control or directly or indirectly benefit from the entity, in their capacity as Beneficial Owner.

• The obligation for commercial companies to submit a notice through the electronic system established by the Ministry of Economy, regarding entries in the company’s Register Book arising from the transfer of ownership or the establishment of any type of rights over share certificates or partnership interests, is also included.

• The powers of the Ministry of Finance and Public Credit are expanded for the enforcement and compliance with the Law, allowing for the establishment of additional registration requirements and the implementation of some measures in response to risks with other countries, as well as international liaison for information exchange and cooperation against money laundering.

• The Tax Administration Service (SAT) is relieved as the authority responsible for supervising and monitoring compliance with obligations in the financial sector, leaving the responsibility in charge of the National Banking and Securities Commission (CNBV), the National Insurance and Surety Commission (CNSF) and the National Commission for the Retirement Savings System (CONSAR) as the competent authorities.

• An obligation of confidentiality and protection of information is added for the exchange of information between the Ministry of Finance and Public Credit and the Bank of Mexico.

• The restriction on the use of cash is extended to cover settlements or payments made by financial institutions.

– Some specific suggestions as a result of the Amendment are:

• Updating internal handbooks, policies and processes, including that relating to the new obligations related to beneficial owners and politically exposed persons, ensuring compliance.

• Strengthen the monitoring and reporting of suspicious transactions using automated systems to detect unusual transactions.

• Organize immediate training on the new obligations, vulnerable activities, and changes in penalties to avoid non-compliance and the risk of fines.

• Design an annual compliance plan that includes personnel selection processes, training programs, implementation of automated systems for identifying vulnerable activities, and scheduling of external audits.

• Collect the required information on the Beneficial Owner of the commercial companies and submit the corresponding publication in the electronic system established by the Ministry of Economy.

We trust this information is useful. Should you require any assistance or specific advice regarding the matters mentioned above, please do not hesitate to contact us. We will be pleased to support you.